What is Boba Network? Boba Network is a Layer 2 expansion solution on Ethereum that helps solve outstanding problems on Ethereum about expensive transaction fees and slow transaction speeds. What makes Boba Network stand out? Let’s find out with Weakhand.
To understand more about Boba Network, please read some of the articles below:
What is Boba Network?
Overview of Boba Network
Boba Network is a Layer 2 platform on Ethereum using Optimistic Rollup technology built and supported by Enya.
Boba Network helps users move Assets easily at low cost, fast speed, and security between layer 1 to layer 2, between layer 2 to layer 1 and between layer 2 and layer 2.
Currently Boba Network has implemented multi-chain support for Avalanche, Fantom, Moonbeam, BNB chain.
Boba Network is considered the home of applications across DeFi, NFT, Game and Metaverse applications.
Boba Network highlights:
- Speed and scalability: Transaction speed and transaction fees on Boba Network are 40 – 100 times faster than on Ethereum.
- Enjoy confidentiality: As a Layer 2 of Ethereum, Boba Network inherits the security and decentralization from Ethereum.
- EVM compatible: Boba Network has a high level of compatibility with EVM, helping developers on Ethereum or EVM Blockchain to easily move and develop their products on Boba Network.
- NFT Bridge: Boba Network develops a bridge that helps users move, mint, and sell NFTs between layer 2 and layer 1 conveniently.
- Product diversity: helps developers on Ethereum build Dapps based on Optimism’s open source code.
- Hybrid Computing: Boba Network provides connectivity to off-chain APIs to build decentralized applications. Callows smart contracts to call any external Web2 API to execute complex algorithms in a single transaction. This technology will help connect Web2 companies looking to deploy on Web3 and help Web3 developers achieve the complexity and computing power of Web2.
Boba Network Development Roadmap
- March 2022: Boba 2 introduces Hybrid Compute mainnet.
- May 2022: Launch of Boba 3 on Rinkeby Testnet.
- August 2022: Launch of Boba 4 on the Rinkeby testnet.
- October 2022: Launch of Boba Mainet.
Core Team
Alan Chiu: Co-Founder
- Alan Chiu graduated with a Bachelor’s degree in Electrical and Computer Engineering, University British Columbia; Master of Science Degree from the University College of Business Stanford.
- Alan Chiu served as Co-President of Stanford Angels & Entrepreneurs – a leading network of Stanford alumni active in the startup community as investors or entrepreneurs.
- Alan Chiu served on the Board of Directors of the Stanford GSB Alumni Association – Stanford University Graduate School of Business as board member and treasurer.
- Alan Chiu is working at Enya Labs as Co-Founder & CEO.
Violet B Abtahi: Co-Founder
- Violet B Abtahi Doctor of Business Administration, UMEF University, Switzerland.
- Violet B Abtahi used to be Co-Founder, President of the AYSANCO Biotechnology venture organization headquartered in Dubai, United Arab Emirates.
- Violet B Abtahi is the Founder Technology consulting company BleuSky Consulting specializes in Web 3.0, blockchain technology, distributed systems and artificial intelligence solutions.
- Violet B Abtahi has held the roles of Co – Founder, CEO, and Board Director SynXspace – a Company multi-platform Multidimensional Spatial Computing.
- Violet B Abtahi works at Enya Labs as COO.
Steven Howell
- Steven Howell graduated with a Bachelor of Science, majoring in Product Design from the University Stanford.
- Steven Howell used to join Innovation Consulting as a Collaborator.
- Steven Howell works at real estate technology company Kasa headquartered in San Francisco, California as a Director.
- Steven Howell works at Enya.ai as Chief of Staff
Investor
Boba Network raised $45M in capital from large funds and organizations: Crypto.com, Houbi ventures, GBV Capital, 10X Capital, …
Tokenomics
Basic information about BOBA token
- Token Name: BOBA Token.
- Ticker: BOBA.
- Blockchain: Ethereum.
- Token Standard: ERC-20.
- Contract: 0x42bbfa2e77757c645eeaad1655e0911a7553efbc
- Token Type: Governance.
- Total Supply: 500,000,000 BOBA.
BOBA Token Allocation
- Investors: 10%
- Team: 20%
- Airdrop: 28%
- Treasury: 42%
BOBA Token Release
Starting September 20, 2022, 29,979,550 tokens will be unlocked each quarter. The final unlock will take place on June 20, 2025.
BOBA Token Use Case
- Gas Fee: Gas fees on all Boba implementations can be paid in $BOBA or the protocol’s native token.
- Governance: $BOBA holders can propose community initiatives, infrastructure ideas, or vote on the future direction of the network.
- Ecosystem: $BOBA is used to fund the development of Boba’s network infrastructure with incentives, developer subsidies, etc.
- Earn Rewards: $BOBA holders can stake BOBA tokens and receive profits.
- Hybrid Computing: BOBA token used for payment and fees when using Hybrid Compute of Boba Network.
BOBA Token Exchange
Currently BOBA tokens are traded on major exchanges: Coinbase, Kucoin, Houbi, Gate, Bybit, MEXC, …
Boba Network Project Information Channel
- Website: https://boba.network/
- Twitter: https://twitter.com/bobanetwork
- Medium: https://bobanetwork.medium.com/
- Discord: https://discord.com/invite/Hvu3zpFwWd
- Telegram:
Summary
Above is information about the Boba Network project. Hopefully this article provides readers with useful information about Boba Network and the BOBA token.